Twin peaks

Chalet Gabro, on the Hohnegg plateau above Saas Fee, has 300 sq m of living space and is for sale at SFr2.5m

In the southern Swiss Alps, just 9km separate the church spires of Saas Fee and Zermatt, its more illustrious neighbour. On the face of it, the two villages could be twins. Both are high, pretty and surrounded by towering peaks. Both are some of the most snow-sure resorts in the Alps, with pistes above 3,000m and the likelihood of summer skiing. And, most famously, both are car-free, with small electric vehicles whizzing around their narrow lanes instead.

Although Zermatt is bigger and more worldly, Saas Fee presents itself as more authentic. For years, the village of 1,500 has named itself “the pearl of the Alps”, alluding to its nest-like setting amid glistening glaciers and rocky peaks. Lying at almost 1,800m, Saas Fee is certainly attractive. Motorists have to park at a huge garage at the village entrance. Almost all of its buildings have pitched roofs made from heavy stone slabs typical of the region. Many are clad in wood, adding to the sense of alpine cosiness. There are few eyesores.

“We are of a manageable size and have retained our village character, compared with Zermatt,” says Felix Zurbriggen, Saas Fee’s mayor and deputy chairman of the lift company. “People like Saas Fee because it is authentic, and we want to keep it that way.”

However, while other resorts have extended their ski slopes, Saas Fee’s have remained at roughly 100km. And visitor numbers, whether in hotels or on the lifts, have fallen. The causes are not entirely self-inflicted: Saas Fee’s steep and rocky terrain – and the twin tongues of its main glacier – severely restrict ski expansion. Periodic plans for growth have been stymied by fruitless debate. “The pearl must regain some lustre,” says Zurbriggen.

Unlike Zermatt, Saas Fee has room to expand. New buildings are severely restricted in both villages – like other top resorts in Switzerland’s Valais canton – but Saas Fee’s rules are significantly more generous. The village allows what amounts to one new small apartment block along with an individual or semi-detached chalet of new construction each year. Much of this is reserved for local sale but there is some scope for foreigners to buy. As in many smaller Swiss resorts, the market is not very transparent. The village has just one agency. However, the property scene is far from moribund. Investors in Property, an established alpine agency, has a three-bedroom chalet in the “Mountain Village” development at SFr925,000 (about £635,000; $1.01bn) while half the bigger, twin unit Chalet Alpin costs SFr1.9m. Building rules would allow the incorporation of an owner’s flat and at SFr2.5m the property is “extremely good value,” says Simon Malster of Investors in Property.

Pure International, a UK agency, is marketing Sonnegg Lodge, a refurbishment and expansion of two existing blocks into 11 luxury apartments. Seven units are still available, costing SFr895,000-SFr1.395m. Separately, on the Hohnegg plateau above Saas Fee, Pure International represents an ambitious scheme to convert a former hotel into a luxury resort. Chalet Gabro, an attractive free-standing building in the grounds, is for sale and offers 300 sq m of living space for around SFr2.5m. Just below Hohnegg, the Geneva-based Swiss Development Group is planning three chalets (two will be semi-detached) for Pinacle Chalets Luxe. A concrete base has been laid but locals say progress has stopped pending sales. “Construction will start again next May,” says Nicolas Garnier, chief executive at SDG.

What has given all of the developers a kick-start is Saas Fee’s latest – and most convincing – scheme for more skiing. The ageing Spielboden gondola will be replaced by a SFr100m two-stage project. A new base station at the car park will mean skiers no longer have to trek through the village. The top station will reach Feejoch, which at a heady 3,880m is comfortably above the revolving Allalin restaurant, the current zenith. This would add 10km to 15km of pistes and extend summer skiing. If the project goes ahead (the second upper stage faces environmental opposition) the top station will offer spectacular views, including the Matterhorn, the symbol of neighbouring Zermatt. Saas Fee initially touted linking the two villages in a massive ski arena matching anything in the Alps, but Zermatt showed no enthusiasm.

As one of Europe’s most popular resorts, Saas Fee’s neighbour is instead prioritising links to the south, over the mountain crest to Italy’s Cervinia and Valltourenche. Edwin Abgottspon, the Saas Fee architect designing the new lifts, believes Zermatt might relent. “Once we’ve built the top lift station, Zermatt will see we’re serious and recognise the advantages.”

One random factor is working for Saas Fee, suggesting its plans are more likely to be realised than some of its past projects. In 2006, Eddy Offermann, a nuclear physicist, visited the village and was enchanted. Some years earlier, Offermann, now 51, had swapped his career in advanced physics for the riches of a US hedge fund. In 2009 he bought a chalet in Saas Fee and spent SFr15m on 39 per cent of the lift company. Financing the current expansion appears to be no problem.

Offermann’s local interests have extended to acquiring the Dom, Saas Fee’s biggest hotel, which is now undergoing a SFr4m refurbishment. In two years, the 70-room hotel will close for a year for a further upgrade to four-star status, adding 130 rooms and serviced apartments in two new wings. Offermann, a passionate skier, says he is no “sugar daddy” but a serious businessman investing in projects that will pay off. “Other people buy themselves a $15m yacht. I bought a stake in something I love to do.”

For Saas Fee, Offermann’s arrival personifies a long-awaited rejuvenation. And for the agents selling in the village, the new projects demonstrate that the pearl may regain its lustre after all.

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Buying guide

Pros

● Scenery: in a “nest” surrounded by some of the highest alpine peaks

● High altitude means good snow and even summer skiing

● Village charm: no cars or eyesores

Cons

● Restricted ski area

● Vulnerable to bad weather

● Car free is cute, but it means long walks

What you can buy for ...

SFr100,000 Nothing

SFr1m Apartments in older buildings, or smaller units in new projects

Contacts

● Investors in Property www.investorsinproperty.com

● Pure International www.pureintl.com

● Swiss Development www.sdg.ch